When is it time to "throw in towel"?
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Don't know if I'd use the terminology "throw in the towel," rather - "adjust or trim the sails" and use the past performance for lessons-learned (L2). Personally, I made the mistake of taking a home business to a suite and then a shop, based on the suggestions of "other" well-intended people. I realized my own judgement of being home-based was wisest where brick and mortar is no longer essential. In trusting people I believed were good people with good intentions having come from a bigger city to a small town enclave, I was cheated out of revenue while my supposed good intended contemporaries in a small community lied to my face with a smile on theirs - so I had multiple L2 in a short time frame in the manner of significant financial losses.
Result? My original ideas were spot on and to me this was the best takeaway. Now, with COVID-19, the reality of an online, home-based and mobile business model, is underscored as more fiscally responsible because I can drive savings to my customers due to "not having" a brick and mortar existence with wolves at the doors and windows is just a better life.
Lesson: follow your instincts and adjust or trim the sails. Embrace these changes for a better horizon - no matter how painful it is - it is improvement . . . don't they say for every great business they often had four or five restarts? Just chalk it up to - what happens in moving the business model forward.
Q.